Market Brief / 02 - 02 - 2018

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US dollar fell to its lowest level in more than three years, as strong economic data from overseas drew investors into the euro. A key measure of euro-zone manufacturing activity, the HIS Markit Euro-Zone Manufacturing PMI, showed a strong start to the year for the region. The solid results signalled that the euro-zone’s recovery, which helped push the euro up 3.4% against the dollar in January.

EUR/USD was up yesterday by 0.8% at 1.2507. Preference is for long positions above 1.2470 with target at 1.2580. Alternatively, below 1.2470 look for a pull back with 1.2430 as target.

On the data slate there’s UK Construction PMI; US Change in Non-Farm Payrolls; US Change in Private Payrolls; US Unemployment Rate; US Average Hourly Earnings; US Factory Orders; US U. of Michigan Sentiment; US Durable Goods; US U. of Michigan 5-10 Yr. Inflation and US Baker Hughes US Rig Count.

My Personal Trading Plan
BUY EUR/USD @ 1.2490 OR BETTER – STOP @ 1.2430 – TARGET @ 1.2580
BUY GBP/USD @ 1.4240 OR BETTER – STOP @ 1.4200 – TARGET @ 1.4350
BUY USD/JPY @ 109.10 OR BETTER – STOP @ 108.80– TARGET @ 109.80
BUY CL0318 @ 65.70 OR BETTER – STOP @ 65.10 – TARGET @ 66.60
SELL AUD/USD @ 0.8040 OR BETTER – STOP @ 0.8090 – TARGET @ 0.7960
BUY XAU @ 1345 OR BETTER – STOP @ 1338 – TARGET @ 1355
BUY XAG @ 17.00 OR BETTER – STOP @ 16.60 – TARGET @ 17.65

THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY PROMISES OR GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS. YOU SHOULD NOT TAKE ANY MATERIAL POSTED AS RECOMMENDATION.

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